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23 August 2006

Breaking: Come by Chance sold

Harvest Energy Trust announced today that it has purchased the Come by Chance oil refinery from Vitol for a reported price of CDN$1.6 billion plus additional "working capital and certain other adjustments".

Under the deal, harvest will operate the refinery and the retail divisions of North Atlantic Refining, while Vitol will continue to provide feedstock. Vitol's prime book-of-business is purchase and sale of feedstock for refining.